- SEC files motion to limit Ripple’s expert testimony.
- According to the SEC, the defendants from Ripple have consented to the “omnibus” or “large” motion.
- Ripple defendants ask for the same for their opposition response.
The SEC has requested authorization to make a petition to exclude or limit the testimony of 10 experts who were engaged by Ripple and its defendants, Chris Larsen and Brad Garlinghouse, The updates were provided by defense attorney James K. Filan, who shared the details on Twitter.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has sought permission to file one omnibus (big) motion to exclude or limit expert testimony, up to 120 pages long. Ripple Defendants do not object provided that they be allowed the same page limit for their response in opposition. pic.twitter.com/haa4Mr7XU1
— James K. Filan 🇺🇸🇮🇪104k+ (beware of imposters) (@FilanLaw) July 6, 2022
According to the SEC, the defendants in the Ripple case have consented to the “omnibus” or “large” motion, which would be limited to 120 pages. The only condition is that they are granted the same number of pages for their answer in opposition.
Those experts issued reports, including initial and/or rebuttal reports regarding numerous subject matters concerning this case, and which total over 500 pages, excluding exhibits.
With the addition of two knowledgeable Kellogg Hansen attorneys, Ripple has enhanced its legal team. In its lengthy legal battle with the U.S. Securities and Exchange Commission, fintech startup Ripple will be represented by the recently hired attorneys Kylie Chiseul Kim and Clayton J. Masterman.
In a recent video, influencer Crypto Wendy is seen having a conversation with attorney Jeremy Hogan regarding the possible outcome of the SEC vs. Ripple case. Jeremy Hogan stated that 95% of the SEC’s cases settle.
Jeremy states that it could be different with Ripple, as it has the money to fight. He adds that “things are looking pretty strong for them as we enter the last inning of the game.”
He also stated that there are chances that this case will settle because Ripple has an interest in doing an IPO when the case settles. In that case, Ripple has to register with the SEC.